NORTH AMERICA BIOSTIMULANTS MARKET FORECAST 2019-2027

NORTH AMERICA BIOSTIMULANTS MARKET FORECAST 2019-2027

The Global biostimulants market by North America is expected to expand with a CAGR of 12.29% and by revenue and area respectively during the forecast period 2019-2027. The market has been valued at $XX million & XX thousands hectares in the year 2018 and is expected to rise to a revenue of about $XX million and XX thousand hectares by 2027.

Biostimulants are chemical compounds based on microbes that are known to intensify the soil microflora population, which can lead to increased & efficient uptake of nutrients. The increase in antioxidant activity in plants and raising internal defenses against environmental stresses and disease pressure are some of the other advantages gained upon the implementation of biostimulants.

The North America biostimulants market is expected to expand with a CAGR of 12.29% in terms of revenue during the forecast period 2019-2027. The market has been valued at $XX million & XX thousand hectares in the year 2018 and is expected to rise about $XX million and XX thousand hectares by 2027. The United States and Canada are the major countries contributing the most to the North American market for biostimulants.

Biostimulants are employed by the farmers in North America to meet the growing agricultural demand in a sustainable manner, thus positively impacting the overall farm profitability. They are utilized to enhance the uptake and use of other significant inputs, notably fertilizers. The U.S. is the leading manufacturer and consumer of biostimulants in the region. Other countries that possess the high potential for biostimulants in the region include Canada. Growth in the importance of food security, increase in the cost of synthetic pesticides & fungicides, and the need for enhanced yield are primary factors that drive the market growth.

Growth in population and precision farming, evolving agricultural practices, and a rise in environmental consciousness among consumer base further supplement the market growth. In response to end users’ demand for quality food products having minimal environmental impacts, farmers are on a constant lookout for ways to utilize mineral fertilizers and synthetic chemicals more effectively and efficiently. Biostimulants are, therefore, seen as a way for farmers to respond to end-user demands and to enhance returns on their initial investments in other agricultural inputs, such as fertilizers, in the region.

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